Egypt’s Torah Cement near triples 2004 net profit

Egypt’s Torah Cement near triples 2004 net profit
Published: 07 March 2005

Egypt’s Torah Portland Cement nearly tripled its 2004 net profit to 152.83 million Egyptian pounds ($26.35m) the stock market said in a statement on Sunday.  The cement firm made 55.00 million pounds in net profit in 2003, the stock market said, giving no further details.  Torah is a subsidiary of Suez Cement (SUCE.CA). Italian cement firm Italcementi had earlier said it has agreed to take control of Suez and plans to invest 1 billion pounds in both Egyptian cement firms over the next 10 years.